Author: Crypto Insider

Unwrapping Sam Bankman-Fried’s analogy about money-printing boxes, Daniel Kuhn of CoinDesk describes why he sees crypto as a luxury good. About 20 minutes into his latest interview with Bloomberg, crypto’s favorite entrepreneur Sam Bankman-Fried said something revealing about the industry: Crypto is mostly a shell game. “You know, where do you start? You start with…

BTC crashed below $35.500, leaving over $400 million worth of liquidated positions in the process and taking the entire crypto market with it. Last week, Bitcoin had also witnessed the major outflows from the market, totaling $120 million, as the uncertainty of institutional investors continued to grow. However, MicroStrategy promised to support Bitcoin in the…

Tron, an Ethereum competitor blockchain, announced the launch of USDD, an algorithmic stablecoin inspired by the success of Terra’s UST, which has topped $18 billion in total issuance. USDD has launched on TRON, BNB Chain, and Ethereum blockchains. The team behind the stablecoin has promised “zero-risk” returns of about 30% APY, and users currently need…

Argentina’s central bank (BCRA) has banned financial institutions from offering unregulated digital assets services. The move comes roughly a month after the International Monetary Fund (IMF) approved a $45 billion loan facility that required the country to discourage the use of cryptocurrencies. On May 5, BCRA announced that financial institutions cannot enable their clients to…

Coinbase NFT, the crypto exchange’s newly launched NFT marketplace, has a problem with attracting users. The once-anticipated platform still has fewer than 1,300 total users, according to Dune Analytics. On its first day, the marketplace, which opened its beta up to the public yesterday, saw fewer than 150 new users make a trade on the…

The high-end fashion brand Gucci has announced it will begin accepting cryptocurrency in some of its US locations later this month, with plans to roll out the program to its other 111 North American stores this summer. Gucci is just the latest one among the various luxury labels to begin accepting crypto payments. According to…